Read more: How to improve the efficiency of financial processes

But why should a company put those processes in the hands of an outsourced company? Check out below 5 reasons to implement a financial BPO: 

 

1. Focusing on your core business activity 

When you hire a specialized partner to take care of your company’s finances, you get more freedom to focus on its core business activity. Keeping up with your segment’s innovations and market opportunities is way easier once your attention is fully turned to strategically relevant matters.

Occupying your business’s routine with the handling of its financial processes will no longer be necessary, but you will still have access to important data and indicators for making decisions.

2. Cost reduction

Thanks to financial BPO, the hiring company will no longer bear the labor costs of maintaining an in-house team to perform financial tasks.

In addition to that, outsourcing those procedures to experts gives rise to a better management for using the company’s funds and to more well-structured policies in place for accessing credit or negotiating bank fees, to name just a few examples.

Another positive aspect is that it will no longer be necessary to invest in dedicated software to keep track of your company’s financial management on a regular basis. Your hired partner will be the one in charge of monitoring this process and, as such, should bear the costs of investing in the most efficient platforms to provide this service.

3. Keeping your techlonology and workforce up to date

Following on from the point raised above, it is important to keep in mind that, in order to properly perform the financial management of its clients, a BPO company should have the most up-to-date technology at its disposal. This includes access to information security practices.

This ensures that the hiring party will benefit from the best tools available in the market, and this will also be reflected in the speed with which the processes are carried out and in the quality of the information collected.

Some services, for instance, enable the automated exchange of payment, collection, and bank statement files generated through an ERP system with different banking systems, thus replacing manual data entry.

For the client's own security and peace of mind, technology can also be used in the processes of payment approval, so that the flow control is under its own management. It is also possible to make approvals conditional on the client's permission.

Another gain is that having experts at your disposal who are constantly up to date on finance-related matters ditches the need to keep a tight track of new legal developments and to train your staff in tasks unrelated to the company’s core activity.

4. Relying on a strategic partner 

When clients share their information and business strategies in advance, a BPO partner can assist them with risk prevention, operational planning and cost reduction.

An example is helping them with pricing, negotiating, contracting and performing foreign exchange operations involving international capital flows, such as loans, inflows, and repatriation.

5. Planning with financial security

With its finances in order, a company is safe to plan ahead and take action. Clients get a complete x-ray of the business and are given suggestions for improvement and ideas for reducing operational expenses, among other practices leading to better predictability and increased efficiency.

With solutions tailored to their needs, companies gain the confidence to comply with their financial routine, in the short and long term, and to plan their investments and other important actions.

DPC’s Financial BPO: from routine to strategy 

With DPC's assistance, your company can count on a highly skilled and up-to-date team of financial experts, who are all set to ensure the good standing of your company’s operations and to supply reliable data for its management. Talk to our specialists: dpc@dpc.com.br.